Common use of Vessel Valuations Clause in Contracts

Vessel Valuations. For inclusion with each Compliance Certificate delivered pursuant to Section 9.1(d)(i) and 9.1(d)(ii) (for the third quarter of each year), and in any event upon the reasonable request of the Facility Agent, the Borrower shall obtain appraisals of the Fair Market Value of each Vessel. All valuations are to be at the Borrower's cost. In the event the Borrower fails or refuses to obtain the valuations requested pursuant to this Section 9.1 within ten (10) days of the Facility Agent's request therefor, the Facility Agent will be authorized to obtain such valuations, at the Borrower's cost, from two of the approved ship brokers listed on Schedule II, which valuations shall be deemed the equivalent of valuations duly obtained by the Borrower pursuant to this Section 9.1(f), but the Facility Agent's actions in doing so shall not excuse any default of the Borrower under this Section 9.1(f);

Vessel Valuations. For inclusion with each Asset Maintenance Compliance Certificate delivered pursuant to Section 9.1(d)(i) and 9.1(d)(ii9.1(d)(iii) (for the third quarter second and fourth quarters of each yearfiscal year of the Guarantor), and in any event upon the reasonable request of the Facility Agent, the Borrower Borrowers shall obtain appraisals of the Fair Market Value of each Vesselthe Vessels. All valuations are to be at the Borrower's Borrowers' cost. In the event the Borrower fails Borrowers fail or refuses refuse to obtain the valuations requested pursuant to this Section 9.1 9.1(g) within ten (10) days of the Facility Agent's request therefor, the Facility Agent will be authorized to obtain such valuations, at the Borrower's Borrowers' cost, from two one of the approved ship brokers listed on Schedule II, which valuations shall be deemed the equivalent of valuations duly obtained by the Borrower Borrowers pursuant to this Section 9.1(f9.1(g), but the Facility Agent's actions in doing so shall not excuse any default of the Borrower Borrowers under this Section 9.1(f9.1(g);

Vessel Valuations. For inclusion with each Compliance Certificate delivered pursuant to Section 9.1(d)(i) and 9.1(d)(ii(d)(ii) (for the third quarter of each year), and in any event upon the reasonable request of the Facility Agent, the Borrower Borrowers shall obtain appraisals of the Fair Market Value of each Vessel. All valuations are to be at the Borrower's Borrowers' cost. In the event the Borrower fails Borrowers fail or refuses refuse to obtain the valuations requested pursuant to this Section 9.1 within ten (10) days of the Facility Agent's request therefor, the Facility Agent will be authorized to obtain such valuations, at the Borrower's Borrowers' cost, from two of the approved ship brokers listed on Schedule II, which valuations shall be deemed the equivalent of valuations duly obtained by the Borrower Borrowers pursuant to this Section 9.1(f9.1(g), but the Facility Agent's actions in doing so shall not excuse any default of the Borrower Borrowers under this Section 9.1(f9.1(g);